Categories: 2014 Best & Worst States

Michigan is the 44th Best State for Business 2013

Previous State: Hawaii Next State: Connecticut

No. 44Michigan

Taxations & Regulations

Workforce Quality

Living Environment

Based on CEO Survey by ChiefExecutive.net

Key Metrics
State GDP % Growth ’10-’11: 2.3 % Growth ’10-’11 v. Nat’l Avg. (1.5%): 0.8 Unemployment Unemployment Rate Dec. 2012 %: 8.9 Comparison with Nat’l Rate (7.80%): 1.1 Domestic Migration Domestic Net Migration ’10-’11: -57,234 Rank: 48 State Government Debt per Capita Fiscal Year ’10 ($): 3,251 State & Local Gov’t Employees per 10k Residents: 491.0 State-Local Tax Burden Rate (%): 9.3 Compared to Nat’l Avg. (9.9%): -0.58

Key Metrics

State GDP

% Growth ’10-’11: 2.3
% Growth ’10-’11 v. Nat’l Avg. (1.5%): 0.8

Unemployment

Unemployment Rate Dec. 2012 %: 8.9
Comparison with Nat’l Rate (7.80%): 1.1

Domestic Migration

Domestic Net Migration ’10-’11: -57,234
Rank: 48

State Government

Debt per Capita Fiscal Year ’10 ($): 3,251
State & Local Gov’t Employees per 10k Residents: 491.0

State-Local Tax Burden

Rate (%): 9.3
Compared to Nat’l Avg. (9.9%): -0.58

Key Companies
Ford Motor Company Dow Chemical Company Whirlpool Dominos Pizza Inc. Stryker

Development Trend Indicator: Positive
Leap to right-to-work follows business-tax overhaul, with more reforms likely.

CEO Comments
“Michigan has turned the corner and has begun to attract the new jobs that come with the electrification of the automobile. In particular West Michigan is the right combination of people, business, government, and geography.” “Love Michigan becoming a right to work state.” “Rated Michigan good because of recent right to work legislation.” “We are moving out of CA, MI, MA and NY in 2013 and terminating our employees there. The regulatory and tax environment has become untenable.” “MI and IN becoming Right to Work is huge.” “Michigan is FINALLY moving in the right direction” “Michigan is on its way back to fiscal solvency. Our companies are prepared to report profits that have exceeded our original expectations.” “Michigan with its new Right to Work laws has gotta be better for business. I like the way they’re going.” “Regulation, taxation and the overall cost of doing business in California and Michigan are difficult. The union mentality in Michigan makes finding quality employees very difficult.” “Governor Snyder has been a ‘game-changer’ for our state and its business environment. He has a strong business background and is not afraid to confront legacy issues that drag down an economy.”

CEO Comments

“Michigan has turned the corner and has begun to attract the new jobs that come with the electrification of the automobile. In particular West Michigan is the right combination of people, business, government, and geography.”

“Love Michigan becoming a right to work state.”

“Rated Michigan good because of recent right to work legislation.”

“We are moving out of CA, MI, MA and NY in 2013 and terminating our employees there. The regulatory and tax environment has become untenable.”

“MI and IN becoming Right to Work is huge.”

“Michigan is FINALLY moving in the right direction”

“Michigan is on its way back to fiscal solvency. Our companies are prepared to report profits that have exceeded our original expectations.”

“Michigan with its new Right to Work laws has gotta be better for business. I like the way they’re going.”

“Regulation, taxation and the overall cost of doing business in California and Michigan are difficult. The union mentality in Michigan makes finding quality employees very difficult.”

“Governor Snyder has been a ‘game-changer’ for our state and its business environment. He has a strong business background and is not afraid to confront legacy issues that drag down an economy.”

Sources:
Bureau of Economic Analysis
Bureau of Labor Statistics
NewGeography.com
The Tax Foundation

Previous State: #43 Hawaii Next State: #45 Connecticut

J.P. Donlon

J.P. Donlon is Editor Emeritus of Chief Executive magazine.